BNP Paribas Financial Markets Has $495,000 Stock Holdings in First Financial Bancorp. (NASDAQ:FFBC)

BNP Paribas Financial Markets lowered its position in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 49.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,404 shares of the bank's stock after selling 18,356 shares during the period. BNP Paribas Financial Markets' holdings in First Financial Bancorp. were worth $495,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in First Financial Bancorp. in the 4th quarter worth approximately $8,961,000. First Trust Advisors LP raised its position in First Financial Bancorp. by 38.3% in the 4th quarter. First Trust Advisors LP now owns 1,186,286 shares of the bank's stock worth $31,887,000 after purchasing an additional 328,788 shares during the last quarter. Norges Bank bought a new position in First Financial Bancorp. in the 4th quarter worth approximately $7,827,000. Hsbc Holdings PLC raised its position in First Financial Bancorp. by 713.5% in the 4th quarter. Hsbc Holdings PLC now owns 265,843 shares of the bank's stock worth $7,149,000 after purchasing an additional 233,163 shares during the last quarter. Finally, Invesco Ltd. raised its position in First Financial Bancorp. by 98.0% in the 4th quarter. Invesco Ltd. now owns 447,824 shares of the bank's stock worth $12,038,000 after purchasing an additional 221,683 shares during the last quarter. Institutional investors own 77.23% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Truist Financial assumed coverage on shares of First Financial Bancorp. in a research report on Tuesday, May 13th. They issued a "hold" rating and a $27.00 price objective for the company. Keefe, Bruyette & Woods dropped their price objective on shares of First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Finally, Royal Bank of Canada dropped their price objective on shares of First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating for the company in a research report on Monday, April 28th.

First Financial Bancorp. Trading Down 1.1%

Shares of First Financial Bancorp. stock traded down $0.27 on Wednesday, hitting $24.26. 96,671 shares of the company's stock traded hands, compared to its average volume of 418,985. The firm's 50-day moving average price is $23.80 and its two-hundred day moving average price is $26.30. The stock has a market capitalization of $2.32 billion, a PE ratio of 10.13 and a beta of 0.94. First Financial Bancorp. has a one year low of $20.59 and a one year high of $31.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.90 and a quick ratio of 0.90.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. The company had revenue of $201.59 million during the quarter, compared to analysts' expectations of $214.80 million. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. On average, research analysts expect that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, June 2nd. First Financial Bancorp.'s payout ratio is 39.83%.

Insider Buying and Selling at First Financial Bancorp.

In related news, insider James R. Shank sold 7,600 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total value of $189,392.00. Following the completion of the sale, the insider now owns 11,141 shares in the company, valued at $277,633.72. This represents a 40.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.13% of the company's stock.

First Financial Bancorp. Profile

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.